Market Size of Brazil Oil and Gas Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 3.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Brazil Oil and Gas Market Analysis
The brazil oil and gas market is expected to grow at a CAGR of more than 3.5% in the forecast period of 2020-2025. Factors such as the reduction in the cost of the offshore drilling rigs, increasing offshore activities, and expansion in the country's refining sector are likely to drive brazil oil and gas market in the forecast period. However, the declining oil and gas production from its mature fields, highly volatile oil and gas prices, and delay of projects are expected to have a negative impact on the brazil's oil and gas market during the forecast period.
- The upstream sector accounted for a significant market share in 2018, and it is likely to dominate the market during the forecast period.
- Brazil is estimated to increase its oil production by 70% by 2035. With favorable conditions in the oil and gas sector, it can attract upstream companies for exploration and development activities in the region. Moreover, Petrobras' new Strategic Plan 2040, which aims to increase investment and prioritizing its activities mainly in deep water is expected to create opportunity for the market to grow in the near future.
- Increasing deep-water activities and pipeline infrastructure are likely to drive the brazil oil and gas upstream market in the forecast period.
Brazil Oil and Gas Industry Segmentation
The Brazil oil and gas market report includes:
| Sector | |
| Upstream | |
| Midstream | |
| Downstream |
Brazil Oil and Gas Market Size Summary
The Brazil oil and gas market is poised for growth, driven by factors such as reduced costs in offshore drilling rigs, increased offshore activities, and expansion in the refining sector. Despite challenges like declining production from mature fields and volatile prices, the market is expected to benefit from Petrobras' Strategic Plan 2040, which focuses on deep-water investments. The upstream sector, particularly deep-water projects, plays a crucial role in Brazil's market, with significant contributions from the pre-salt region. Brazil's position as a leading producer in South America and its substantial offshore production underscore its importance in the global oil and gas industry.
The market's expansion is further supported by developments in pipeline infrastructure, with numerous projects underway to enhance capacity and connectivity. Brazil's pipeline network, including major projects like the Bolivia-Brazil pipeline, is set to grow, bolstering the downstream sector. The presence of key industry players such as Petroleo Brasileiro S.A., Exxon Mobil Corporation, and Royal Dutch Shell Plc highlights the market's consolidated nature. As Brazil continues to develop its oil and gas fields, the installation of new pipelines is expected to further stimulate market growth in the coming years.
Brazil Oil and Gas Market Size - Table of Contents
-
1. MARKET OVERVIEW
-
1.1 Introduction
-
1.2 Market Size and Demand Forecast in USD billion, till 2025
-
1.3 Recent Trends and Developments
-
1.4 Government Policies and Regulations
-
1.5 Market Dynamics
-
1.5.1 Drivers
-
1.5.2 Restraints
-
-
1.6 Supply Chain Analysis
-
1.7 PESTLE Analysis
-
-
2. MARKET SEGMENTATION
-
2.1 Sector
-
2.1.1 Upstream
-
2.1.2 Midstream
-
2.1.3 Downstream
-
-
Brazil Oil and Gas Market Size FAQs
What is the current Brazil Oil and Gas Market size?
The Brazil Oil and Gas Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)
Who are the key players in Brazil Oil and Gas Market?
Petroleo Brasileiro S.A, Exxon Mobil Corporation, B.P. Plc, Royal Dutch Shell Plc and Total S.A. are the major companies operating in the Brazil Oil and Gas Market.
